8-K
R F INDUSTRIES LTD (RFIL)
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934
Date of Report (date of earliest event reported): March 16, 2021
| RF INDUSTRIES, LTD. | ||
|---|---|---|
| (Exact name of registrant as specified in its charter) | ||
| Nevada<br><br> <br>(State or Other Jurisdiction<br> of Incorporation) | 0-13301<br><br> <br>(Commission File Number) | 88-0168936<br><br> <br>(I.R.S. Employer<br> Identification No.) |
| --- | --- | --- |
| 7610 Miramar Road, Bldg. 6000<br><br> <br>San Diego, California 92126-4202<br><br> <br>(Address of Principal Executive Offices)<br><br> <br><br><br> <br>(858) 549-6340<br><br> <br>(Registrant’s Telephone Number) |
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
| ☐ | Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) |
|---|---|
| ☐ | Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) |
| --- | --- |
| ☐ | Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) |
| --- | --- |
| ☐ | Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) |
| --- | --- |
Securities registered pursuant to Section 12(b) of the Act:
| Title of each class | Trading Symbol(s) | Name of each exchange on which registered |
|---|---|---|
| Common Stock, $0.01 par value per share | RFIL | NASDAQ Global Market |
Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2).
Emerging growth company ☐
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐
| Item 7.01 | Regulation FD Disclosure. |
|---|
RF Industries, Ltd. (the “Company”) from time to time makes presentations at conferences and to analysts, current stockholders, potential investors and others, and has prepared presentation materials that the Company intends to use in this regard. A copy of the presentation materials to be used is furnished as Exhibit 99.1 to this Current Report on Form 8-K and is incorporated herein by reference.
The information contained in this Item 7.01 and in Exhibit 99.1 furnished herewith shall not be deemed “filed” for purposes of Section 18 of the Exchange Act, or otherwise subject to the liabilities under Section 18 of the Exchange Act, nor shall it be deemed incorporated by reference into any filings made by the Company under the Securities Act of 1933 or the Exchange Act, except as shall be expressly set forth by specific reference in such a filing. The furnishing of this information will not be deemed an admission as to the materiality of any information contained herein.
| Item 8.01. | Other Events. |
|---|
On March 16, 2021 the Company issued a press release announcing that it had received a $6.5 million purchase order from a new Tier-1 wireless carrier customer. The full text of the press release is attached hereto as Exhibit 99.2 and incorporated herein by reference.
| Item 9.01 | Financial Statements and Exhibits |
|---|
(d) Exhibits.
| Exhibit No. | Description |
|---|---|
| 99.1 | RF Industries, Ltd. Q1 2021 Investor Presentation. |
| 99.2 | RF Industries, Ltd. press release, dated March 16, 2021. |
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
| March 16, 2021 | By: | /s/ Robert Dawson |
|---|---|---|
| Robert Dawson | ||
| President and Chief Executive Officer |
ex_234337.htm
Exhibit 99.1
| FOR IMMEDIATE RELEASE |
|---|
| Contact:<br><br> <br><br><br> <br>MKR Investor Relations Inc.<br><br> <br>Todd Kehrli<br><br> <br>Analyst/Investor Contact<br><br> <br>(213) 277-5550<br><br> <br>rfil@mkr-group.com |
RF Industries Receives $6.5 Million Order from Tier-1 Wireless Carrier
Customer for its OptiFlex™ Hybrid Fiber Cable Solution
Backlog now stands at more than $15 million
SAN DIEGO, CA, March 16, 2021 – RF Industries, Ltd, (NASDAQ: RFIL), a national manufacturer and marketer of interconnect products and systems, today announced it has received a $6.5 million follow-on order from its new tier-1 wireless carrier customer at the Company’s Cables Unlimited division for its OptiFlex™ hybrid fiber solution, for use in the build out of wireless tower sites.
“We are pleased to receive another order from this new tier-1 wireless carrier customer, and we appreciate their trust in us to be a part of their infrastructure deployment plan,” said Robert Dawson, President and CEO of RF Industries. “This order represents a significant win for us and highlights our ability to support the wireless carrier ecosystem in their 5G build out and the related network densification. Our OptiFlex™ solution has been one of the key components of our growth in the last few years and we’re excited about the continued opportunities for this product line. These hybrid fiber solutions underscore our capabilities in supporting carrier tower site builds and we feel that along with our small cell and DAC thermal cooling solutions, we are building a more complete set of products for the wireless carrier market. This order also reinforces our belief that significant project wins like this, layered on top of our higher level of run rate sales, give us the combined platform to springboard to further future revenue growth.”
With this order, RF Industries backlog stands at just over $15 million as of today. The Company expects to be able to start shipping against this order in the second half of its current fiscal year ending October 31, 2021.
OptiFlex™ is a composite of multiple cables which may include all or a variation of power, coax, ethernet and fiber. This product line is a customizable solution that is engineered and designed to fit the exact needs of RF Industries’ customers and has been and is used in wireless tower site upgrades from 3G to 4G and LTE and 5G. For more information on OptiFlex™, click here.
About RF Industries
RF Industries designs and manufactures a broad range of interconnect products across diversified, growing markets including wireless/wireline telecom, data communications and industrial. The Company's products include RF connectors, coaxial cables, data cables, wire harnesses, fiber optic cables, custom cabling, energy-efficient cooling systems and integrated small cell enclosures. The Company is headquartered in San Diego, California with additional operations in Long Island, New York, Vista, California, Milford, Connecticut and North Kingstown, Rhode Island. Please visit the RF Industries website at www.rfindustries.com.
Forward-Looking Statements
This press release contains forward-looking statements with respect to future events, including the return of delayed project-based business and the Company’s long-term growth, which are subject to a number of factors that could cause actual results to differ materially. Factors that could cause or contribute to such differences include, but are not limited to: the duration and continuing impact of the coronavirus pandemic on the U.S. economy and the Company’s customers; changes in the telecommunications industry; the Company's reliance on certain distributors and customers for a significant portion of anticipated revenues; the impact of existing and additional future tariffs imposed by U.S and foreign nations; the Company's ability to execute on its new go-to-market strategies and channel models; its ability to expand its OEM relationships; its ability to continue to deliver newly designed and custom fiber optic and cabling products to principal customers; its ability to maintain strong margins and diversify its customer base; and its ability to address the changing needs of the market. Further discussion of these and other potential risk factors may be found in the Company's public filings with the Securities and Exchange Commission (www.sec.gov) including its Annual Report on Form 10-K and its Quarterly Reports on Form 10-Q. All forward-looking statements are based upon information available to the Company on the date they are published, and the Company undertakes no obligation to publicly update or revise any forward-looking statements to reflect events or new information after the date of this release.
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Image Exhibit
Exhibit 99.2
